Issue - meetings

Recommendation on page 104

RESOLVED – That -

(1)        The outturn position in respect of the 2019/20 financial year be noted.

(2)        Executive approve the transfers to various earmarked reserves of £1,595,013 as outlined in detail in paragraph 1.6 of the report, including the £80,000 of the in-year surplus to be made available in 2020/21 for a ‘Parish and District - end of pandemic/VJ Day commemoration project’.

(3)        Executive approve the proposed carry forward of capital budgets detailed in Appendix 4 to the report totalling £6.582m.  

Executive considered the report of the Portfolio Holder - Finance and Community Safety which informed Members of the outturn position of the Council for the 2019/20 financial year.

It was noted that the draft statement of accounts had been published on 28thMay 2020. The draft statement of accounts was subject to the independent audit from the Council’s external auditors, Mazars.

The report set out the position in respect of the General Fund, Housing Revenue Account and Capital Programme outturns, which were detailed in appendices to the report.

In respect of General Fund balances, the level had increased to £2.261m which was considered to be at an acceptable level for a district council. With only a limited level of General Fund reserves it was considered crucial that the Council continued to maintain robust budgetary control while securing its ongoing savings targets in order to safeguard both its reserves and its financial sustainability.

The main feature of the 2019/20 financial year was that the Council transferred £1.595m to Earmarked Reserves in preparation for future expenditure.

With regard to the underlying favourable variance on the General Fund in 2019/20, this was to be reviewed as usual during the budget process for 2020/21 - 2024/25, from October 2020 onwards. 

The outturn position of the Housing Revenue account and the position of the Capital Programme were outlined in the report. Carry forward amounts in relation to the Capital Programme were proposed due to individual schemes that were still in progress, where there were outstanding commitments, or where the schemes had been delayed. The proposed carry forward amount was £6.582m.

The Council’s treasury management activity for 2019/20 was also summarised in the report.

The Portfolio Holder commented on the requirement for the Council to provide information on its financial position to the Ministry of Housing, Communities and Local Government on a Covid-19 return, and that the impact of the coronavirus pandemic continued to be closely monitored, with significant work being directed to supporting the local economy.

Members requested additional information on some specific areas of the Council’s accounts, including the level of progress on the Safe and Warm scheme installation of new boilers, and what the Special Services covered under the HRA scheme.

The Director of Development advised Members that the programme of replacement boilers was well in hand. The Head of Finance and Section 151 Officer agreed to provide further details of the HRA Special Services after the meeting.

Members praised the proposal for £80,000 to be made available to parish councils to hold community events following the end of the coronavirus lockdown and social distancing restrictions.  It was noted that this funding would only be available until the end of this year.

Moved by Councillor Clive Moesby and seconded by Councillor Duncan McGregor

RESOLVED – That -

(1)        The outturn position in respect of the 2019/20 financial year be noted.

(2)        Executive approve the transfers to various earmarked reserves of £1,595,013 as outlined in detail in paragraph 1.6 of the report, including  ...  view the full minutes text for item 8